Indian Businessman Loses ₹1.94 Crore in Alleged Online Forex Trading Scam

A 40-year-old businessman from Chikhali has reportedly lost ₹1.94 crore after falling victim to an alleged online forex trading scam, according to police officials. The case adds to a growing number of investment fraud incidents linked to unverified trading platforms and unsolicited investment offers.

According to a complaint filed with the Pimpri Chinchwad Police, the businessman was first contacted in October 2024 by an individual identifying himself as Aditya Thakur. The caller claimed to be a manager at a well-known online forex trading platform and promised high returns on investment.

Police said the accused persuaded the victim to open a trading account through a provided website link. Over time, the businessman transferred significant sums of money, believing he was earning consistent profits based on the account statements and figures displayed on the platform.

Problems emerged when the victim attempted to withdraw his alleged profits. Authorities stated that the accused repeatedly delayed the withdrawal process, offered vague explanations, and demanded additional payments under various pretexts, including processing fees and account verification charges.

After multiple unsuccessful attempts to recover his funds, the businessman began to suspect fraud and approached the police. A case has been registered under Section 318(4) of the Bharatiya Nyaya Sanhita, which relates to cheating.

Investigators are currently working to identify and locate the accused. Police are also tracing the money trail, including analyzing bank accounts, mobile phone numbers, and online platforms used in the transactions, in an effort to determine whether additional individuals or networks were involved.

Authorities have once again urged the public to exercise caution when approached with unsolicited investment opportunities, particularly those promising unusually high returns. Police emphasized the importance of verifying the legitimacy of trading platforms and avoiding the sharing of financial or personal information with unknown callers.

The case reflects broader concerns among Indian law enforcement agencies over the rising sophistication of online investment scams, especially those exploiting public interest in forex and digital asset trading.